European Economic Commissioner Gentiloni addressing a news conference in Belgium on Feb 13. — Reuters
BRUSSELS: A global reform of the taxation of corporate digital revenues is very unlikely if the United States continues backing a "safe harbour" plan which would allow firms to choose how to be taxed, European Union tax commissioner Paolo Gentiloni said on Feb 18.
Outdated cross-border tax rules are set to be rewritten under a joint pledge from 137 states to reform a system that has been strained to breaking point by companies like Amazon, Facebook and Google which have booked profits in low-tax countries like Ireland, no matter where their customers are located.
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